Exploration & Production

Acquisitions & Divestitures

Osaka Gas To Acquire Houston-based Independent Sabine Oil & Gas

The acquisition of Sabine Oil & Gas by Japan’s Osaka Gas will mark the first time a Japanese company has purchased a U.S.-based shale gas developer.

Emily

Patsy

HartEnergy.com

Mon, 07/29/2019 - 08:55 AM

Osaka Gas To Acquire Houston-based Independent Sabine Oil & Gas

Sabine Oil & Gas operates in the Haynesville and Cotton Valley shale plays in East Texas, where Osaka Gas previously acquired a stake last year. (Source: Hart Energy/Shutterstock.com)

Osaka Gas Co. Ltd. agreed on July 29 to buy Houston-based independent Sabine Oil & Gas Corp. as the Japanese company looks to U.S. shale for growth.

The transaction, which still requires government approvals, will mark the first time a Japanese company has purchased a U.S.-based shale gas developer, Osaka Gas said in its release.

Sabine, formerly a publicly-traded E&P which emerged as a private company after filing for bankruptcy in 2016, operates in the Haynesville and Cotton Valley shale plays in East Texas. According to a report by Reuters, the sale of Sabine is worth $610 million.

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Texas/La Gulf Coast

Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.

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